Divorce Financial Settlements

Divorce Financial Settlements

Many of our clients are worried about their assets, especially with regards to how assets will be divided up in a divorce. Dealing with finances can be complicated, when it includes pensions, investments, income, debt, inheritance and spousal maintenance. Navigating these complex issues may seem daunting, but our Family Law experts at Downs can provide you with advice on how to proceed. Financial settlements vary greatly from case to case and it is important for your to discuss your situation candidly. Downs can use our expertise to advocate for you and help you reach a fair and amicable financial settlement.

Spousal maintenance

Spousal maintenance is paid by 1 spouse to the other where one of the party’s cannot support themselves financially. If you can reach an agreement with the other party that can that agreement can be included in a consent order. If not, an application will need to made to the Court. The Court will only order spousal maintenance after they have evaluated your needs (including those of any dependent children) taking into account your earning capacity (and foreseeable earning capacity), income from all sources, the standard of living prior to separation and any other needs. Once the Court is satisfied that there is a shortfall, then a spousal maintenance is likely to be ordered. Our Family Law team can provide you the legal advice you need to ensure your financial future.

Protecting your wealth

There are numerous ways you can protect your wealth. The Family Law team at Downs can help draw up a prenuptial agreement or cohabitation agreement, prior to getting married or moving in together. These types of agreements can protect your assets, especially if you have an inheritance, a trust, pension or a business, in the case of your relationship ending. Discuss your financial situation with the family law team at Downs to see what legal options there are to protect your wealth.